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2h ago

Argentina Approves $2.7 Billion Los Azules Copper Project Under RIGI

The decision sets up a feasibility study release in October as the project seeks permits and financing.

Los Azules prevé una inversión consolidada de u$s2.672 millones para su desarrollo completo, desde la exploración hasta operación.
Campamento del proyecto Los Azules en San Juan
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Overview

  • Economy Minister Luis Caputo said the RIGI Evaluator Committee cleared Los Azules in San Juan, the first copper development admitted to the incentive regime.
  • The plan outlines about US$2.7 billion in investment, more than 3,500 direct and indirect jobs, and roughly US$1.1 billion in annual exports, with total capital potentially near US$3 billion.
  • McEwen Copper and the International Finance Corporation signed a collaboration to align the project with IFC ESG standards for potential future debt and equity support.
  • The company expects to publish its feasibility study in October 2025, with a board-level investment decision targeted roughly a year later, contingent on provincial approvals in San Juan and securing financing.
  • The approval raises the RIGI roster to eight projects totaling about US$15.7 billion, and Los Azules is positioned to produce refined copper with lower water use, lower emissions, and a 100% renewable power goal.